The purpose of the study was to estimate economic returns for Aquaculture enterprise and develop strategies for enhancing market access for fish farmers. The study would contribute to improved enterprise selection among fish farmers, resulting in increased returns on investments in fish farming. The methodology involved a sample survey of 59 pond owners in the Districts of Iganga, Tororo and Kaberamaido. The results showed small pond sizes of average of 459 M2 and average pond construction cost of Shs 871,874. Majority of pond owners had stocked only one of their ponds and their last harvests were in 2013. Only 30% fed their fish using manufactured feed and only 26.2% carried out complete harvest of their ponds at the end of a production cycle. Average quantities harvested were 268 kg and 418 kg., selling at Shs 6,500 and Shs 6,000 per kg. for tilapia and catfish respectively. Gross profit per production cycle was Shs 1,704,367 for mixed tilapia/ catfish ponds while losses were reported for tilapia and catfish single species ponds. Break-even points were 425 kg for mixed ponds and 292 kg and 333 kg. for tilapia and catfish single species ponds. Payback period was 1.5 production cycles, which rounded up to 2 production cycles for the mixed species ponds. The poor economic performance was attributed to small sizes of ponds, low stocking densities, low quality fingerlings, inadequate feeds, prolonged rearing periods, high costs of fingerlings and feeds and poor management skills. The recommendations include increased investments in ponds, training to farmers on pond management, access to credit capital and improved supply of fingerlings and feeds for the region.